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FM Global adds pair of climate reporting tools

Posted On: Oct. 18, 2022 2:50 PM CST


FM Global on Tuesday launched two climate reporting tools designed to help policyholders prioritize their investments in climate risk mitigation.

The climate risk report scores a policyholder based on the actions it takes to address climate risk and its exposure to events such as flood, windstorms, hail and wildfire, FM Global said in a statement.

The report is based on billions of property-risk data points collected in more than 60,000 engineering visits each year to policyholder sites, the Johnston, Rhode Island-based insurer said.

FM Global will also provide policyholders with a climate reporting aid to help them disclose acute and chronic climate-related financial risks to investors and the public according to widely adopted frameworks such as the International Task Force on Climate-related Financial Disclosures.

FM Global in August said it would offer a 5% premium offset to policyholders to help them invest in climate mitigation. The credit totals around $300 million across its policyholder base.